ValuEngine Downgrades Lockheed Martin (NYSE:LMT) to Sell

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ValuEngine lowered shares of Lockheed Martin (NYSE:LMT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning, ValuEngine reports.

Several other brokerages have also recently issued reports on LMT. Credit Suisse Group raised their target price on Lockheed Martin from $379.00 to $401.00 and gave the stock a neutral rating in a research report on Thursday, October 10th. Barclays reissued a hold rating and issued a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. DZ Bank reaffirmed a hold rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Morgan Stanley lifted their price objective on Lockheed Martin from $376.00 to $381.00 and gave the company an equal weight rating in a research report on Thursday, October 10th. Finally, UBS Group lifted their price objective on Lockheed Martin from $385.00 to $420.00 and gave the company a buy rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Lockheed Martin presently has a consensus rating of Buy and a consensus price target of $372.64.

Shares of NYSE:LMT opened at $373.68 on Friday. The stock has a market capitalization of $105.19 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.47 and a beta of 0.96. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The stock’s 50-day simple moving average is $384.63 and its two-hundred day simple moving average is $359.07. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $399.96.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.63. The business had revenue of $15.17 billion for the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $5.14 earnings per share. As a group, equities analysts forecast that Lockheed Martin will post 21.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s payout ratio is presently 49.30%.

In related news, Chairman Marillyn A. Hewson sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the transaction, the chairman now directly owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James D. Taiclet, Jr. purchased 1,354 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the acquisition, the director now owns 1,354 shares in the company, valued at approximately $509,537.28. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP increased its position in shares of Lockheed Martin by 59.9% during the first quarter. Marshall Wace LLP now owns 11,148 shares of the aerospace company’s stock worth $3,346,000 after acquiring an additional 4,176 shares in the last quarter. WT Asset Management Ltd bought a new stake in shares of Lockheed Martin during the first quarter worth $1,940,000. Bath Savings Trust Co increased its position in shares of Lockheed Martin by 3.5% during the second quarter. Bath Savings Trust Co now owns 1,811 shares of the aerospace company’s stock worth $659,000 after acquiring an additional 62 shares in the last quarter. Private Trust Co. NA increased its position in shares of Lockheed Martin by 0.5% during the second quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock worth $1,957,000 after acquiring an additional 28 shares in the last quarter. Finally, LVM Capital Management Ltd. MI increased its position in shares of Lockheed Martin by 3.5% during the second quarter. LVM Capital Management Ltd. MI now owns 22,544 shares of the aerospace company’s stock worth $8,196,000 after acquiring an additional 756 shares in the last quarter. 78.41% of the stock is currently owned by institutional investors.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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